New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1887-01-31
THE REPUBLICAN, POLICY.
INTERVIEW WITH SENATOR ALDRICH.

INTERVIEW WITH SENATOR ALDRICH.
A MAN WHO DOES NOT THREsH OVER OLD STRAW
PROSPECTS OF FINANCIAL AND ECONOMIC
LEGISLATION IN THIS CONGRESS-
WASHINGTON, Jan. 2S.-" He doesn't thresh over old
straw" said one OF the oldest of the newspaper cor
respondents in Washington to-day referring to Senator
Adrichs speeches. There didn't seem to be anything
further to be said the Interstate Commerce bill
when his turn to speak upon it camo, but he gave
facts and shed new light upon every division OF
the subject of which he treated. 1t is with his
speeches on finance. II no uses an old argument he
dresses 1t up Clothes adorns with new Illus
trations and makes it appear new ITSELF
Mr. Aldrich, although still comparatively young
mamie Is the junior of majority OF his colleagues
in the Senate-stands in the very front rank OF the
sound practical legislators in Congress upon economic
questions and he has attained his preemnence By
honest hard work He Is persistent consumer OF tue
midnight oil-or gas. And 1t is not in lis study alone
that he digs out his facts and constructs his argn
ments. His constituents in Rhode Island are busy
people. They make almost everything that human skil
has devised to add to the comfort or spread inc
Injuries of civilized lite. When at homo he Is in daily
contact with the who manage and control great
enterprises and little ones, with the workngmen anu
the shopkeepers, farmers and professional men, and
when he returns to Washington he always brings with
hin vast fund OF information which he stores away
making constant additions, and upon which he draws
upon OCCASION with much confidence as business
man with large balance in bank and unlimited credit
writes his check for hundred dollars. And when
Liquidation affecting any special interest Is prSpO'fu
those engaged in it before making up his mind what
There Ia peculiar satisfaction. therefore, In talking
with Senator Aldrch upon the subjects that over
shadow In Importance all others before Congress
When, therefore he told me to-day that no did not
anticipate any financial economic legislation during
the present session. l set that down as settled.
There will be some trying, suppose y said.
"Oh yes" he replied but don't think 1t will
amount to anything. don't think the revenue re-
formers to any laws these subjects they
could and their inability has been pretty well demon
srated. The followers of Mr.. Randall have been con
sulting q good deal of late Won know, but don't
to arrive at any definite conclusions, and they
do hoy will not probably agree upon that the
Republicans accept and the House would not
agree to any thing that we might pass
+" Is there harmony OF opinion among the Republican
Senators upon what ought to be DONE say 10 dispose oil
the surplus revenue "
"1here are some leading points upon which we sub
stantially agree" said the Senator. In regard to
sugar think the feeling is pretty nearly unanimous
that duty upon it Ought to be repealed or at least
reduced so per cent. We should aso agree to take
the tax off from tobacco, Certainly to reduce 1t one
half As alcohol used in the arts the inclination is
also to relieve that from taxation, but there tech
nical difficulties about tbat-the danger OF frauds
that will have to be carefully considered law con-
tanning these features would provide for dsposng OF
large part OF the surplus
Z" Are there any Republicans who would not agree to
this plan " | asked
the PENNSYLVANIA school of economists, who desire the
abolition OF the entire internal revenue system But
do not think that the people oil tns country NOu aI-
prove the removal OF the tax on whiskcy and the con-
nuance of the present duty of about 30 per cent on
sugar. The only Senators whom should expect to
favor it are Cameron and Mahone."
Do you anticipate the passage OF such measure as
you outline by the Senate {"
/. Yes but we have not yet determined in what form
we shall put t-wbetber amendment TO some bill
from the House before the Senate, or resou
ton declaring to be our conviction that such legsla
Are there any bills to which amendment of that
kind would he germanc ="
There are two or three that | think might be fairly
construed to be revenue bills There is one permit
ting the of imported articles in the tacuro OF
tobacco and providing for drawback such articles
when so used We might very properly put amend
ncnts such have outlined upon it. We shall put
ourselves record in some way that the country
may know what would 40 Tor it's relief if we could"
What do Republicans Senators think OF the Hewitt
and Jordan bill permitting the Secretary OF the Treas
nry to deposit the surplus in the National banks
q 1t is looked upon with favor. Ii would be con
ferring dangerous power ufon the Secretary OF the
Treasury. Only think he might select one or two OF
the National banks in Providence and deposit In them
zen or twelve millions OF dollars That would do
nor 10 believe that the people would ever approve OF
he purchase of per cent bonds at high premium"
DO you still think that an extra session OF Con
surplus revenue is made I"
IL should not e surprised II the President should |
,a Congress together in the fall, and am not sure
but that he would bc justified in doing so.'
There will probably be legislation in relation to
the National banks" Senator Aldrch said. recurring
10 the subject after conversation on other topics
The tax on circulation ought to be removed If the
National banking system IL TO be cont nued the amount
circulation allowed to be issued on given amount OF
ponds should be increased. and the amount OF bonds
held BY the banks rcdr ced but nothing OF the kind VIII
be done. ~
in connection with this may say that find that tho
old prejudice against the National banks and Eastern
capitalists has not disappeared from among members
of Congress- proposition to egis ate for their relei II
violently attacked by class OF demagogucs who don't
whether their crtcins just or not and others
who know better TALL in because they moral cow
ards and dare not stand MP Tor their convictions lest
they be misunderstood by their constituents Souh-
ern man showed me the other day AT the Capitol
table that had had compiled from the last published
bank statements in New York, and called my attention
Il some OF what he called startl ne hgu~cr lie had
a great deal TO say, particu arly about tie FIRST
National Bank and Is surplus OF SJOOO,OOO accumii-
lated in few years a capital stock OF S3OO,OOO;
aud of the Chemical National Bank with s surplus OF
81 900 600 and undivided profits OF nearly $50 900,
accumulated on n capital OF only f3OO,OOo lie SAID
be had heard that the Chemical National Bank made "A
net profit OF 5000 900 last year, md the Union Trust
Company of $500 900. refer to this conversation
only to show why it IL idle TO hope 'or any intelligent
legislation affecting the National banks while so many
members Of Congress influenced by their preudccs
rather than their Judgment
asked Senator Aldric IT, in his opinion, the coinage
of silver dollars is to forever ard that the hoard
OF them the Treasury vaults was to be indefinitely
increased
Yes" his reply, as tar this Congress is con
cerned The trade dollar bill passed by the Senate will
probably be agreed to by the 1onsc but the provision
directing that the amount paid out for trade dollars
shall be deducted from the regular monthly purchases
OF silver bullion will probably be stricken out"
find that the best informed members OF both houses
of Congress look for general revision of the tar
til after the next Presidential election If it il possible
to dc so Congress and the Administration will 90 along
with sort of haudto-mouth policy, adopting tempo
rary exLedents to carry the country over dangerous
places, for the next two years. Z. l. W.
NOAH PORTER DEFENDING MR. HUME.